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How did Deliveroo's Q3 results compare to Just Eat's?
Deliveroo reported a 5% increase in gross transaction value (GTV) to £1.78 billion for Q3 2024, while Just Eat experienced a 3% decline in sales, totaling €6.3 billion. This indicates a strong performance for Deliveroo, particularly in its core markets, contrasting sharply with Just Eat's struggles.
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What factors contributed to Deliveroo's growth in the UK and Ireland?
Deliveroo's growth in the UK and Ireland can be attributed to a 6% year-on-year increase in GTV, driven by strong consumer demand and effective marketing strategies. The company has successfully capitalized on its core markets, adapting to changing consumer preferences and enhancing its service offerings.
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Why did Just Eat experience a drop in sales in the US market?
Just Eat's 3% drop in sales was primarily due to significant challenges in the US market, where competition is fierce and consumer demand has fluctuated. Despite these challenges, there are signs of recovery as Just Eat's performance improved towards the end of the quarter.
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What are the implications of these results for the food delivery industry?
The contrasting results of Deliveroo and Just Eat highlight the competitive nature of the food delivery industry. Deliveroo's growth suggests a potential shift in market dynamics, while Just Eat's struggles may prompt a reevaluation of strategies to regain market share, particularly in the US.
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How are both companies adapting to the current consumer environment?
Both Deliveroo and Just Eat are adapting to a challenging consumer environment by refining their strategies. Deliveroo is focusing on enhancing customer experience and expanding its service range, while Just Eat is working on improving its performance in struggling markets, particularly in the US.